Bookkeeping tips to help you build a solid financial foundation for your business.
As a small business owner you don't have extra money to throw around.
I get that. I love saving money whenever I can. Which is why I want to let you in behind the scenes of my bookkeeping business.
The best time of year to start your new bookkeeping system is January 1. This keeps all your records for the year in one place and ensures tax time will be a breeze.
And the best time to hire a bookkeeper? February.
Seriously? YES! If you hire a bookkeeper in February it will be the least expensive because I don't need to clean up any previous months and your January bookkeeping is completed in February! That means there's no time for things to get confusing for you. Just hand it over to me and continue on with your life!
Ready to save money? Schedule a discovery call and we can get started!
So you're thinking of hiring a bookkeeper –– I think that's a great idea! Here are a few things you need to have in place before you hire:
The first thing you'll want to do is setup business bank, credit card, and/or PayPal accounts. It is not a good idea to run your business through your personal accounts. Not only does it make tax time a mess, but it will make your bookkeeping a nightmare!! So if you're looking to hire a bookkeeper in the near future be sure you have your business accounts setup first.
The second thing I recommend doing before hiring a bookkeeper is to follow bookkeepers on Instagram. No, not just me (though I would be honored if I'm one of them––find me here)! Go follow two or three. You need to see who you connect with, the type of clients they specialize in, and who you love learning from. You'll get a good feel for what you're looking for and when you're ready to hire you'll have your favorite picked out!
The last thing to do before hiring is prepare your budget! A good bookkeeper will cost the typical business $200-$300 per month. A word of wisdom: hire a bookkeeper that charges a flat fee. You don't need the stress of wondering how much your bookkeeper is going to charge each month.
Also, don't base your choice only on cost. Cheapest isn't always the best. Look at the packages the various bookkeepers offer and choose the one that meets your needs.
Any other questions about what to do before hiring a bookkeeper?
Wondering what benefits bookkeepers can bring to your business? Wonder no more:
1. Organized finances. No more feeling scattered and unsure about your numbers. Instead you’ll be confident that your financial statements are correct and actually mean something to you. And speaking of financial statements…
2. Help you understand your finances. Feel clueless or confused when you look at your numbers? I get that. You are a creative after all not a numbers person. A bookkeeper will create financial statements customized to your business and will help you understand them.
3. Minimize the potential of costly errors. Have you ever entered numbers wrong? $2,000.00 instead of $20.00? If an error is made bookkeepers will catch them for you. It never hurts to have a second pair of eyes on your books.
4. Gain time because you won’t be doing your bookkeeping any more. Think of how you can reinvest that time in marketing, networking, or furthering your education. Sounds exciting to me!
5. An unbiased opinion in your business. You are emotionally invested in your business which is a good thing but occasionally you need someone to tell you like it is (nicely of course). A good bookkeeper will give you an outside perspective which will help you reach your goals.